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think you can do all of this and solve the fiscal ills just raising taxes? what -- who is to blame kids if they think, well, i'm okay. i needn't worry. >> neil, i think the problem is deeper than that. the problem is simply this. the young people are going to pay need bills as i just said before, and guess what? they are not voting on head starts. they are not voting on the war in iraq or any of this stuff. who votes in america today, neil? senior citizens do. it's not any kind of mystery why we can't cut programs like medicaid, medicare, and social security that people get the benefits are the ones who vote. that really is a problem. if we want to get people like charlie's generation, their voice heard, they have to get out own vote for policies and protect their own financial interests. neil: but, charlie, you were telling me something interesting last time you were here, in the heart of hearts, young people you talked to are not that optimistic they'll see social security or medicare, are they? >> not really. you asked them -- a classroom i went to, how many of you receive social sec
the white house won't deliver its own budget in time and still wants to raise more taxes. we're about to hear a response from a republican house member. >>> that's not all. fed chief ben bernanke is saying it must raise the debt ceiling and that the fed is going to keep buying bonds for now. on this one-month anniversary of the heinous, awful newtown shootings, the sheriff comes out in favor of banning assault weapons. "the kudlow report" begins right now. >>> first up tonight, president obama slams the republicans. he says no gimmick, no magic coins. just the plain old standoff on the debt ceiling. who is gonna blink first in this? john harwood joins us from washington with the details. good evening. >> good evening. the president used the last news conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take th
neighborhoods. let's remember that. but still some homeowners find that they owe back property taxes and maintenance fines on a home they thought they'd lost. maria? >> all right, diana. stay there. we want to get reaction now within real estate from real estate attorney sherry oliphson. good to see you. >> thanks. >> should a process be in place to avoid the zombie foreclosures? >> well, absolutely. i mean, we've learned through this crisis that foreclosure litigation is unlike any other litigation. we have time frames as a result of the robosigner and others that diana referenced for banks to complete short sale processes and notification requirements 37 and these other requirements if foreclosures are not going to be pursued need to be enforced. not only for the homeowners but also for the neighbors and for investors in those banks. we're talking about as many as 2 million mortgages that are in zombieland. who knows what financial impact that's going to have when it shows up on the bank's books? >> sure which is what diana was reporting. should the banks have a time limit to decid
loopholes through tax reform, which speaker boehner has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure that we are reducing our health care spending, which is the main driver of our deficits, we can arrive at a package that gets this thing done. i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. the threat that unless we get our way, unless you gut medicare or medicaid, or, you know, otherwise slash things that the american people don't believe should be slashed, that we're going to threaten to wreck the entire economy. that is not how, historically, this has been done. that's not how we're going to do it this time. [ inaudible question ] chuck, what i'm saying to you is that there is no simpler solution, no ready, credible solution other than congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling. because this is about paying your bills. everybo
case or hurt his cause? we will get reaction. dagen: and intimate the state income tax. one governor laid out his case, and wayne rogers likes the idea. top of the hour, nicole petallides is covering it for you o on the floor of the new yk stock exchange. nicole: the market is likely to the downside. the trend has been the major market averages are not too far off the unchanged line. see the dog over the unchanged line 50 times in one day is not unusual to see that, however the trend had been to the upside looking like nine trading weeks we have seen the s&p 500 now hovering around the five year highs. dow jones industrials as well and the nasdaq composite as well. intel weighing on the major averages, you can see down 6.25%. if you took out intel out of the dow, the dow would be flat right now. they came up with profits that were disappointing, weak outlook. not good news for intel weighing on the major averages, but technology in general. back to you. dagen: forget about washington. our next guest says stop talking about it, investors should be focused on making money in the econom
give a tax credit to any one who would turn in what lawmakers are calling an assault weapon and also another measure aimed at creating the overall bigger picture of mass violence. >> at the news conference the president accused republicans of trying to collect a ransom in exchange for not crashing the u.s. economy. they are demanding more spending cuts before they agree to raise the nation's debt ceiling. the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really mig
to surrender on the debt limit and require the republicans to accept new taxes in exchange for any new real spending reductions. so the white house's plan is to force republicans to be unreasonable by being themselves reasonable and taking the positions they have had all along, including in the 2012 campaign, which they won. another version came today from "the new york times" columnist, saying they could adopt the strategy, called kill the wounded, the wounded being the republican party. the way the strategy works, the moderate policies on gun control and hurricane relief, they will force the republicans to offend main stream supporters or risk a challenge from the right. there is a kind of a delightful logic to this argument, which it is true. the republican party looks really bad because the white house is proposing pretty popular moderate ideas and republicans keep saying no to them. and yeah, it is true that house republicans look kind of crazy when they say they're going to let the white house default on its obligations, regarding the election and that issue. so yeah, if obama was not
is the economic catastrophe that would occur with the simultaneous expiring of the bush tax cuts and deep across-the-board spending cuts that congress scheduled to kick in january 1 so congress couldn't negotiate a fiscal solution by january 1. confused? let me put it in terms of a 21st century analogy that can crystallize the point of it. pretend america is a successful railroad company. that has fallen on some hard fiscal times. there's an argument within the company about whether to make some changes to the dining car offering, maybe cut fares for less wealthy riders or on the other side of the argument where trains themselves are steel beasts that stalin invented to kill freedom and martha washington. this is clearly a large gap to bridge in negotiations they added what we call in the movie business the ticking clock in the form of a dam sell tied to the track. the damsell in this case representing our entire economy. yes, we tied a woman to the track. to force us to deal with the train. so the stage was set for serious people to arrive at a serious solution. seriously. >> a lot of partisan
, he said he would not extend any of the bush tax cuts for the wealthy and you did. you say you're not going to negotiate this year, why should house republicans take that seriously and think if we did into the 1 minute until midnight scenario that you will not back down? >> first of all, julianna, let's take the example of this year's fiscal cliff. i did not say we would not have any conversations out all about extending the bush tax cuts. i said we would not extend them for the wealthy. we did not. now, you can argue that during the campaign i said i set the criteria for "wealthy" at $250 on dollars and we ended up being a $400,000, but millionaires are paying more taxes, just as i said. from the start, my concern was making sure we had a tax code that was fair and protected the middle class. when biggest priority is making sure that middle-class taxes did not go up. the difference between this year and 2011 is the fact that we have already made $2 trillion in cuts. at the time, i indicated that there were cuts that we could sensibly make that would not damage our economy, wou
taxes, state taxes, local taxes. it has to follow the rules or license.ill lose the a lot of gun shop owners i talk to say why should we have to do all this? guys can set up in the parking lot and have a gun show and not have to follow those rules. if you're going to have rules it is going to be for everybody. you cannot say the rules apply to you but not to you. you might want to close the gun show loophole. suddenly, having real background check. that i purchase a weapon, i have to go through a background check the same way you would. that should apply to everybody. they do not have any way to check on that as california has found. a lot people should not have weapons but do because there is that a way to compare records, a felony records and so on. can sayose that so we whatever rules we have will apply the same to everyone. >> i want to ask you some more about guns. one of the things i want to point out is you have another big domestic policy i tim in your camp which is immigration. -- item in your camp which is immigration. you are going to be starting to work on that sometime in
are protected by armed guards at their schools? mr. obama demands the wealthy pay theheir faishare of taxes but he is just another elitist hypocrite when it comes to a fair share of secucurity. protection for their kids and gun-free zones for hours. ours. >> jay carney said that the nra ad was r repugnant and cowardly. the nra says that the ad was not in anyone's children in particular. anyone the claims otherwise they say is intention to try to kid ththe topic and is missing the int. incidentally, once the president talked about gun violce, sales went through the roof. can ththe president moving now to this time around? >> there is more desire for control than ever bui do not think congress will budge on the big stuff. it is not going to get done. what the nra did was odiou i think the president is on the high ground, but i do not think he will get done real gun- control. >> these 23 executive action re fairly trivial, there was nothing major about it. i think it will not have any effect, it was the appearance of motion. the three big items on the table for congress, the assault weapons ba
. the law requires licensed gun dealers to perform these tax -- checks but as many as 40% of all gun purchases are conducted without one. that is not fair to responsible gun buyers or sellers. an overwhelming majority of americans agree that anyone try to buy a gun to the least have to prove they are not a felon or someone legally prohibited from owning one. that is just common sense. second, congress should restore a ban on military-style assault weapons and a ten round limit for magazines. when the assault rifles, when combined with high-capacity magazines, have one purpose only -- to fire as many bullets as possible as quickly as possible. these weapons have no place i our communities. a majority of the american people agree with me. finally, congress needs to make it easier for law enforcement to do its job. we should get tougher on people who buy guns only to turn around and sell them criminals. at a time when many communities have been forced to make cuts to their police force, we should put more cops back on the job and on the streets. like most americans, i believe the second
now, we're hearing from administration officials, are fines and back taxes for those. i think it's about 11 million undocumented workers, illegal immigrants presently living in the united states right now. the president acknowledged in his weekly radio address just yesterday that this is one of the difficult missions facing this country right now, richard, and obviously will be when you consider the fact that the president, as he pursues this, as he's likely, to according to the "new york times," even addressing it in the state of the union address on february 12th, he'll be dealing with immigration, gun control. we know about the confirmation hearing issues and then the fiscal, the debt ceiling which is fast approaching as well. >> definitely that dance card is getting filled up pretty quickly so early in the year and he hasn't even been inaugurated. also in that article, senator marco rubio preparing his own version of the d.r.e.a.m. act. he discussed how republicans could face some pushback from latinos because of their stance on immigration reform. he said this, quote. we are
clinton's second term, he made significant progress on balanced budgets and ronald reagan accomplished tax reforms. >> even if they're dealing with other problems. >> and we have been fortunate to be scandal-free and we want to continue that, but if you look, it's not like we're roaming around the west wing looking for things to do. right now in front of congress and the country you have the need to reduce the deficit and continue to grow the economy, energy and climate change, immigration, gun safety. things are stacked up. and so i think that that is going to provide the sort of focus and energy you need and i think his intention is to run through the tape all the way through. >> gun safety has jumped to the top of the president's agenda since newtown and this week the president promised that the weight of his office behind these proposals, but we're already seeing a lot of resistance from democrats and i want to show some of the reaction this week. senator max baucus "before passing new laws we need a thoughtful debate that respects responsible law abiding gun owners in montana instead
the republicans stand for, small government, low taxes, growth. there are other conservative voices calling for a broader base, rain in the right and make a direct appeal to women and minorities, retreat on social issues like gay marriage, abortion, legalize marijuana, they want compromise, at reach, inclusion and a smaller voice on contentious issues. personally i think conservatives should change the tone. enter over the election turns people off. name-calling is a loser. smile, persuade. a party of growth and optimism will surely have its place in the sun. all right, we're going to talk more about the direction of the gop in a moment but we have this breaking news. the federal reserve has released a load of documents from several closed-door meetings that it had in 2007 as the financial crisis was just getting rolling. among the in relation being released, the minutes from three emergency sessions that the fed at a time when the economy was i'm going to say, adding. there could be some dramatic exchanges, how often insiders says there had to be embarrassing stuff in there. if there wasn'
stating very clearly today that he will not negotiate deficit reduction, tax increases and spending cuts attached to the debt ceiling. this of course does follow that bruising battle the year before last, where he did negotiate on the issue, and the u.s. nearly went to the brink of default. he said that congress has to pay the bills that it's already racked up. >> you don't go out to dinner and then, you know, eat all you want and then leave without paying the check. and if you do, you're breaking the law. and congress should think about it the same way that the american people do. you don't -- now, if congress want, to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. that's the debate that we should have. >> reporter: in this press conference that was called last minute in the east room, president obama said he will negotiate a deal on deficit reduction but not, as he put it, quote, with a gun to the head of the american people. as you know, joe, republicans are saying they're not going to increase the debt c
back tax do community service, prove they have been here for an extended period of time. understand some english and become assimilated. most of them would get legal stat us and be allowed to stay in the country. congressman paul ryan is weighing in. he wrote this on his facebook page. senator rubio is exactly right on the immediate to fix our broken immigration system. i support the principle he's outlined. modernization of our immigration law, stronger security to curb illegal immigration and respect important the rule of law in addressing the complex challenge of the undocumented population. eagerness to jump onboard is bipartisan. majority leader harry reid describing the prospects for immigration reform in the months ahead. >> it is going to be first thing on our agenda. the -- majority, every senate, lists their top ten items. immigration is the number one item. we are going to do immigration. they are now -- agreed tentatively on a path of citizenship which is the big stumbling block. we may be able to come up with a bipartisan bill quicker than you think. >> it is going to m
more revenue, through tax reform, by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. turns out the american people agree with me. they listened to an entire year's debate over this issue and they made a clear decision about the approach they prefer. they don't think it is fair, for example, to ask a senior to pay more for his or her health care or a scientist to shut down life heavy saving research so the that a multimillionaire investor can pay less in tax rates than a secretary. they don't think it is smart to protect endless corporate loopholes and tax breaks for the wealthiest americans, rather than rebuild our roads and our schools, invest in our workers skills or help manufacturers bring jobs back to america. so they want us to get our books in order in a balanced way where everybody pulls their weight, everyone does their part. th
school? mr. obama demands of will to pay their fair share of taxes but he is just another elitist hypocrite when it comes to his fair share of security. protection for his ks angun- free zones for hours. -- for ours. >> at the white house, and jay carney called the ad cover the. the nra says that the ad is not aimed at anyone's child in particular. anyone who says otherwise is changing the topic and missing the point. sales have gone through the roof. can the president moving mountain this time around? >> no, and it is trupublic inion has changed, there is more desire for gun control than ever but i do not think congress will budge on the big stuff. what the nra did was odious. i think the president is on the high ground, but he will not get real gun-control done. >> the 23 executive actions were fairly trivial, nothing major about it. i think it will not have any effect. it was the appearance of motion. the three big items on the table for the cgress, assault weapons b, limit othe size of the magazine clip, and universal background checks -- the last one has very strong public op
to take those things like taxes, and then perhaps leading to a primary challenge for those republicans who voted in favor of higher taxes. chris: somebody on the hard right then? >> as we saw in recent elections democrats have a pretty good track record in general elections against some of these fringe candidates. chris: well said. >> chuck hagel. big discussions. unlike with susan rice where she hung fire for weeks and was dropped, or she dropped herself, this time he stuck with hagel after all the heat against him on -- some from the gays and the left and the neo-cons and where is he heading? put a guy out there in your face as howard said? >> he thinks that he can win. first of all it wouldn't look good if he backed down after what happened to susan rice and i think he thinks he can win this. and there are certain things about chuck hagel's resume that set with what he wants to do with defense. cutting defense spending, that sort of thing. it makes sense so he's going to stick with his pick. chris: is hagel, barack obama with a war record, is he really the guy that -- that obama has bee
you royally. it is a $2,000 tax deductible charitable contribution. if you can possibly afford this, call 866-359-4334. 866-359-4334. make the call that makes it possible for a link tv to continue. if you want to do dinner and a show, just call up and say you want to make the reservation. my colleague recalls in a few days sets up the date. maybe you have no idea. it will be -- we are ready, i look forward to hosting you at democracy now! we will give you the tour. it is the greenest show. we have the highest certification you can get in greenbelt. 866-359-4334. cornele're talking about west and tavis smiley. both of their speeches, the whole event, all yours for $100. if you want their boat "the rich and the rest of us goes with that is yours for $75 for put them to gather for $100. we cannot do this without you. only together, only with you. were comics a difference. you make it possible for link tv -- you make the difference. you make it possible for link tv. extending the fundraising drive. 8:00 in the morning pacific time, 3:00 in the afternoon pacific time. col. your call make
does not stop taking taxes out of your check. even if we go to the brink, they will keep taking the taxes out. tax revenue keeps coming in what washington has to decide is prioritizing what money goes out and where? what do you think is top, top priority. the bill to pay before all others? like if we were in same boat, same emergency we would pay the mortgage or rent first to keep a roof over our head, we prioritize, so does uncle sam like we know we might as well toss our home good-bye. the government knows a default comes only, when obligations to spreadtorcreditors or investorst paid. that is their mortgage emergencies, that upsetting the other stuff, defaulting it is not, that is why some republicans are paying so tough, raise but only if you match in equal spending cut, president said that is crazy, tea party activist thinks that going through this shar charade is cr, what do you think? >> i am so glad that you are pointing this out, i think it is so irresponsible -- i know that very few others in the media are going to point this out. this is a perpetual problem, it is a l
be in the form of tax cuts. a lot of democrats are going to hate that, but republicans like tax cuts, and we can just get everybody on board from the beginning." >> narrator: he was told right from the start the stakes couldn't be higher. >> this is the first of a series of tests. and if he failed this one, what would it say for his administration and his ability to deal with all the other challenges we're going to face? >> president obama promised the american people he would bring bipartisan solutions... >> narrator: he decided to make a symbolic gesture: he'd come to them. >> mr. obama is hoping for support from both sides of the aisle... >> narrator: take his proposal to the republicans on their own turf. >> he'll try and sell his plan to the republicans... >> narrator: he headed right for the meeting of the republican caucus. >> it's a rare day when the president goes to the capitol to meet only with members of the other party... >> hello, everybody. how are you? >> he spoke extemporaneously about the stimulus. he walked us through it probably 15 or 20 minutes, just his thought process and
million r tax adjustment and $376 million from something and $700 million from reduced mortgage loan loss. jamie dimon said challenges still exist but as we look forward to 2013 -- let me finish this thought, we look forward -- we remain optimistic. we're committed to doing our part to speed the recovery of the housing market and we continue to see favorable credit conditions across our wholesale loan portfolios. at first blush. go ahead, andrew. introduce chris. >> chris whalen is here to respond to these numbers. i'm here to say they also put out on their website today. what do you make of these numbers? >> similar to welles making up a lot of earnings numbers with cost cutting, very important. a little light on revenue, i think the story of most banks going into 2013. my guess is interest margins continuing to squeeze because of the fed. >> that's not going to get better. >> the benefit from the fed has gone by on net and tt an alarmi rate and the time's gone >> what's your thoughts on loan growth. >> as jamie said he's trying hard to put on assets, everyone in the industry is. but wit
to president cane, all of our used foods are 100% tax free. this week's special includes sun dried mammals. only $0.99 a pound. be sure to visit the fruit and vegetable department for fresh found fruit from neighboring grocery stores dumpsters. and don't forget all of our used foods are 100% tax free. this week kids get free abc gum with a purchase of $20 or more. used foods emporium now with 999 convenient locations. [ applause ] >> stephanie: that was kenny pick. yeah right? president kaine, yikes. kelly you are on the "stephanie miller show." >> caller: good morning. that soundings like a lovely place to shop. >> stephanie: sorry if you are eating breakfast. >> caller: no, i'm laying in bed watching you. >> stephanie: hello. okay. >> caller: i have been listening to the chatter about gun control ever since that horrific incident in newtown, and i want to jump on the other side of the coin as somebody who has been in counseling for clinical depression for over five years. i know people with asperger's syndrome. i don't want a still ma to be attached to mental illness the w
at their check. i guess it was last week, when they saw the big cut in the social security payroll tax. it was a jump. you have less money now. so many things are affected unfortunately. coming into february, here we are again going to be with spending cuts going to kick in officially. all of this will affect unfortunately the markets. it will be a little rough. the economy is fragile. don't get a deal, jenna. you're looking at recession. fitch knows that. investors know that. we're watching it here at fox business. a little rough. jenna: all right. those are the stakes, recession or not. we'll watch this very closely over next couple weeks. cheryl, thank you. >> you bet. jon: after weeks of delay, secretary of state hillary clinton will testify on capitol hill about the benghazi attack on january 23rd. the secretary will face some tough questions from the house foreign affairs committee about the assault in september that left four americans dead including u.s. ambassador chris stevens. miss clinton was set you would to testify last month but she suffered a concussion falling during i
does, 100 billion dollars or so, you wonder whether or not it's had a tax hit yet, if it's overseas, it hasn't. how much of the 5 billion that dell has is overseas? >> you know, that's a good question. i don't have that number off the top of my head but with these tech companies selling so much globally you do end up getting a large stockpile overseas. david: let me stop you there so our viewers know. that means there could be a potential big tax hit if most of that money is overseas? >> yeah, that's exactly right. if you have to repatriate for use in something like this, then you have to pay the differential in the different tax jurisdictions. so while you have 5 on the books, it could be significantly less that you could actually utilize. sandra: i want to bring a report from goldman sachs. they upgraded based on quote the possibility of a leveraged buyout offer providing floor for the shares. if you own dell shares, if you want to own dell shares, what does one do right now based on the news that we have at this moment? >> well, i think outside of a takeout, the 2013 still looks
. and this is not just the party of the wealthy, he said, and of lower taxes. it has to be, you know, many republicans don't make as much money and pay a much higher percentage of their income in taxes, and they need the party's help, too. i thought he made so many. that was such a potent -- what was it, 30 minutes? >> it really was, but mika, let's talk about the people that want to buy bushmasters. yes, gun sales are moving at a rapid pace. a lot of people are buying two or three. >> they were buying as many as they can get. >> just to keep up with their survivalist neighbors. >> right. >> you can't have enough of those clips, right? >> apparently not. >> maybe they string them around their christmas trees. i don't know what they do with them. but steve rattner, this is the problem the republican party has made. this is the mistake the republican party's made. they listen to the loudest voices. a small, small percentage of americans. and americans, by the way, who don't swing presidential elections. i have been saying it ad nauseam for four years and making extremist conservatives very upset. you do
. boehner first broke his rule on new year's day when he allowed a vote to avert the fiscal cliff on taxes. apparently there's an addendum to the boehner rule. the majority of the majority, unless the country is on the verge of a tax crisis, or chris christie has access the to a megaphone. christie made sure this week that republicans knew he would use it. >> and i'll say again, new jersey does not expect anything more than what was done for louisiana and alabama and mississippi and if they want to make new rules about disasters, they picked the wrong state to make the new rules with. >> and yesterday, new york congressman peter king, who berated boehner when he failed to bring the bill up at the end of the last congress, ignored the divisions within his party, saying time for recriminations is over. >> i'm proud to stand here today with all of us united. now, maybe your divisions to vote, but all of us are committed to getting this done. i want to thank the chairman of the rules committee, mr. sessions, for the great job they've done in bringing it here, with a fair rule, and allowing for
. these three states -- new york, new jersey, and connecticut, threes three states pay almost 16% of the taxes collected in the united states of america. three states, 16% of the taxes. you ask the question, who suffered because of superstorm sandy? certainly our neighbors in new york and new jersey and connecticut suffered the most, but all americans will suffer if this economic engine is not rebuilt. the three states that pay nearly 16% of the taxes need this reconstruction, and so does the united states of america. all members, republican and democrat, should vote yes in favor of this legislation. i yield back. the speaker pro tempore: the gentleman yields back. the gentleman from oklahoma is recognized. mr. cole: i reserve the balance of my time, mr. speaker. the speaker pro tempore: the gentleman reserves. the gentlelady from new york. ms. slaughter: i'm pleased to yield a minute and a half to the gentleman from new york, mr. bishop. the speaker pro tempore: the gentleman from new york is recognized for 1 1/2 minutes. mr. bishop: i thank my friend, representative slaughter for yielding ti
. people forget reagan was able to get tax reform, bill clinton was able to get a balanced budget. certainly a big opportunity for the president but fully aware in the white house, a lot of challenges ahead as well, jenna. >> certainly not challenges for a father. nice to see the first family, ed, and how much the girls have grown up over the last four years. what we're looking at for the president tomorrow besides the hair styles and what everybody is wearing at the inauguration is what is he going to say? what will be the address to the nation tomorrow? you mentioned some policy challenges ahead. what are you hearing about tomorrow's address and how that might set the table, if you will, for the years to come? >> true. what i'm hearing is the state of the union address next month is really where the president will go with a deeper dive on policy, whether it be gun control, immigration reform, the debt ceiling debate. tomorrow's broad scene. his senior advisor will talk about bringing the country together. republicans are saying the early signals they've seen from the president a
to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity of all of this, of defaulting on our debts, the country will be in a dire situation. president obama knows this. he believes it. he has proved it before. and he is not going to play games with economic stability. >> so we've got to pay our bills. and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not c
system closes, tax refunds won't go out, the faa would go off line. that's not even talking about what would happen in the financial markets, including the prospect of interest rates rising. do you feel comfortable -- >> but, chris, we've already addressed some of these things about making certain the interest is paid, making certain that we prioritize. you know, budgets are to be about priorities anyway. and i think that there is a way we're going to have to find a way forward, if you will, we're going to have to work through a way forward so that we pay all of our bills, so that we are able to meet what we have to meet as far as our needs go, and that we are reducing what the federal government spends. there's a lot of waste, fraud, and abuse in the federal spending system. everybody knows that. the time has come that everybody engage in this. the agencies, the bureaucracy, they've got to do their part on this. they just can't sit there and say, oh, you're cutting me because you're not giving me the amount of increase that i wanted. those days are over. house republicans -- >> i unde
it the curb. and many thought president obama wanted to go over in order to raise taxes. to do the same thing over the debt ceiling and get full blame for it, it could genuinely destroy the republican party, of course while destroying the economy. >> there is that little problem, for republicans. so what about this point, ezra, that the president, the federal government could easily meet its obligations on actual debt payments through bonds and that sort of thing. but it would be the spending, the discretionary spending that they would have to cut under these circumstances. so there wouldn't ever be, many republicans insist they wouldn't ever be a realistic prospect of default in this. and that is why the president uses the word "obligations," instead of the word debt because they may just agree with them that there wouldn't actually be a debt default. >> it is unclear, we literally don't know what would happen because it never happened bef e before. so a legal authority is not all obvious. so there is a question, for the treasury department, to decide if we pay off the bond holders, but not
.c. of course is taxed by congress, but has no vote in congress, which famously is not the way we're supposed to do things in this country. what, you want to argue with james otis? taxation without representation is tyranny, boston, 1765? the president getting those license plates on the giant limo that is going the carry him to his inauguration officially makes the inauguration better than it otherwise would have been. or maybe ever has been before. we'll see. ay be easy, but when you wake up in the middle of the night it can be frustrating. it's hard to turn off and go back to sleep. intermezzo is the first and only prescription sleep aid approved for use as needed in the middle of the night when you can't get back to sleep. it's an effective sleep medicine you don't take before bedtime. take it in bed only when you need it and have at least four hours left for sleep. do not take intermezzo if you have had an allergic reaction to drugs containing zolpidem, such as ambien. allergic reactions such as shortness of breath or swelling of your tongue or throat may occur and may be fatal. intermez
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